Developing bullish impulse in wave [i] on EURUSD

There's a developing bullish impulse in wave [i]. Previously, we had a zigzag in wave 4, which means we could have another upward rally. If a pullback from 7/8 MM Level happens little later on, there'll be time for a bearish correction.

6/8 MM Level acted as resistance, so wave (iii) has been ended. Currently, the price is declining in wave (iv). If a pullback from the 34 Moving Average happens during the day, bulls are likely going to deliver another upward impulse in wave (v) of [i].

eur

Similar

30.08.2021 17:40 Trade Ideas to Follow This Week

EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…

17.08.2021 14:08 SNB Won't Let EUR/CHF Fall

What happened? It looks like the decline in EUR/CHF to 1…

16.08.2021 10:00 EUR/USD Hit All Targets

4H Chart Daily Chart EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

Latest news

03.04.2024 18:19 USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

28.03.2024 16:00 WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.